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SEC clears MTN for listing on NSE

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$8.1BN SUIT: MTN seeks out of court settlement

The Securities and Exchange Commission (SEC) on Monday confirmed telecommunications giant, MTN for listing on the Nigerian Stock Exchange (NSE).

The telecoms company recently changed its status from a private company to a Public Liability Company (PLC) ahead of its listing on the exchange.

Confirming this on Monday, the Head of Corporate Communications of the Commission, Mrs. Efe Ebelo, said that the company’s application was presently receiving attention.

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She said: “SEC can confirm that we are in receipt of an application from MTN requesting for registration of their existing securities.

“They have applied for listing by introduction which will enable the company to be listed and allow shareholders sell their shares on the floor of the exchange.”

The Acting Executive Commissioner of the Corporate Services of the exchange, Henry Rowlands, expressed the readiness of the Commission to work with MTN.

He said: “SEC is committed to work with them, when they list by way of introduction naturally it will translate to public offering by and large.

“It’s better that they come to the market even if it’s by way of introduction because it will encourage other service providers to access the market.”

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